Gold stabilizes, poised for a third consecutive week of gains

Gold prices were stable on Friday, but are on track to post gains for the third consecutive week, supported by a decline in the US dollar and efforts by the US Treasury Department to curb rising yields on long-term bonds, as of 00:31 GMT.

Spot gold prices showed little change at $4,514.23 per ounce, after reaching their highest level since early June in the previous session. The metal has gained 3.2 percent since the start of the week. US gold futures settled at $4,571.20.

Among other precious metals, spot silver prices remained largely unchanged at $68.03 per ounce. Platinum rose 1.1 percent to $1,846.29, while palladium was priced at $1,333.11. All three metals are heading toward weekly gains.